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Forex Revolution: An Insider's Guide to the Real World of Foreign Exchange Trading by Peter Rosenstreich

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8. Inside a Forex Platform

In the last 10 years, and especially the last five, the Forex market has evolved with amazing speed. Today, the retail trader equipped with just a basic workstation and Internet connection can trade Forex, with the pricing and execution comparable to the interbank market. What historically was the exclusive domain of banks, multinational corporations, and hedge funds is now accessible to investors from Albany to Zurich.

Banks once made sure that Forex information was closely guarded, making the price-discovery process difficult and mistakes to outsiders costly. This inefficient market kept bid/ask spreads wide and transaction costs high. With the rise of computers, however, information can be disseminated among millions ...

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